Lamaque miners will mine more than 500,000 mt to produce more than 100,000 oz of gold this year.

Eldorado Gold has reached commercial
production at its wholly-owned Lamaque
gold mine just southeast of Val-d’Or, Quebec.
The mine produces ore from the Triangle
deposit 2.5 kilometers (km) south of
the historical Lamaque and Sigma mines,
which are also on the property and produced
more than 10 million ounces (oz) of
gold. Ore from the Triangle deposit is being
processed at the refurbished Sigma mill.

Lamaque is scheduled to mine and
process more than 500,000 metric tons
(mt) of ore during 2019 at an average
grade of 7 grams/mt and cash operating
costs of $550-600/oz of gold sold. Eldorado
is estimating that the mine will produce
100,000 oz to 110,000 oz of gold
in 2019 and 125,000 oz/y to 135,000
oz/y in 2020 and 2021. Initial mine life
is estimated at seven years.

Exploration work by Eldorado increased
its inferred resource at Lamaque
by more than 50% during 2018, and the
company is planning to conduct more
than 37,000 m of exploration drilling on
the property in 2019.
Regarding reaching commercial production
at Lamaque, Eldorado COO Paul
Skayman said, “We are proud to announce
the achievement of this important milestone
just over 18 months after acquiring
this asset. It is a testament to all of the
hard work that has gone into the exploration,
prefeasibility study, engineering, and
construction that we have safely delivered
commercial production ahead of schedule.
I would like to thank everyone who
worked on this project, especially Sylvain
Lehoux, Lamaque general manager, and
the rest of the team at site.”

Eldorado Gold is headquartered in
Vancouver, British Columbia. The company
operates the Kisladag and Efemçukuru
gold mines in Turkey and the Olympias
and Stratoni polymetallic mines in
Greece. Gold production during 2018
totaled 349,147 oz, including 35,350
oz of pre-commercial production from
Lamaque. Guidance for company-wide
production in 2019 is in the range of
390,000 oz to 420,000 oz of gold.